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Sri Lanka’s Laugfs Gas says port terminal issues being resolved

Jan 11, 2018 14:18 PM GMT+0530 | 0 Comment(s)

ECONOMYNEXT – Sri Lanka’s Laugfs Gas said it was holding talks with the new Chinese operator of Hambantota port and investment authorities to resolve problems on proceeding with a terminal it was building at the southern harbour.

Construction work on a pipeline linking the terminal to the jetty had been halted by Sri Lanka Ports Authority, a stock exchange filing said.

The port was handed over on a 99-year lease to China Merchant Port Holdings (CMPort) for US$1.12 billion last month.

Laugfs had begun building the US$80 million LPG import-export terminal before the government’s deal with China.

Laugfs said the project would be completed on target with the first phase over by April 2018 and the current issue would not be detrimental to the project.
(COLOMBO, January 11, 2018)